U.S. Stocks Erase Losses as Treasuries Drop, Euro Pares Decline
U.S. Stocks Trim Losses as Treasuries Drop
Jin Lee/Bloomberg
Traders work on the floor of the New York Stock Exchangein New York.
Traders work on the floor of the New York Stock Exchangein New York. Photographer: Jin Lee/Bloomberg
U.S. stocks erased losses as an advance in commodity and technology shares helped the market overcome an early drop triggered by concern Europe’s debt crisis will worsen. Treasuries fell, pushing 10-year note yields to a one-month high, before $66 billion in note and bond auctions this week.
The Standard & Poor’s 500 Index rose 0.1 percent to 1,196.31 as of 10:32 a.m. New York time after slumping as much as 0.6 percent. The 10-year note’s yield climbed nine basis points to 2.17 percent as trading resumed following the Columbus Day holiday. The S&P GSCI Index of commodities pared its drop to 0.5 percent after retreating as much as 1.3 percent. The euro was down 0.2 percent at $1.3611, recovering from an earlier 0.6 percent slide.
To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net
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